11/1/23 Hello November!


Markets opened red on Halloween but that didn’t spook buyers.

Priced moved higher throughout Tuesday’s session and closed with a second day of gains.

Chats from Finviz

The indexes closed at their session highs…

  • Dow Jones +0.4%
  • Nasdaq +0.5%
  • S&P 500 +0.7%
  • Russell 2000 +0.9%

Sector Round Up

All 11 sectors were green for a second consecutive day.

At the top…

  • Real Estate (XLRE) +2.0%
  • Financials (XLF) +1.1%
  • Utilities (XLU) +0.9%

At the bottom…

  • Materials (XLB) +0.5%
  • Consumer Staples (XLP) +0.4%
  • Energy (XLE) +0.3%


The S&P 500 is in no-man’s land, trading between two important levels…

SPY Daily Candles – Chart from thinkorswim

Expect some choppy markets in the coming days, as resistance levels are not often easy to break through.

We do expect the bulls to prevail. The timing favors higher prices. And the technicals aren’t telling a different story.

Your latest readout…


November usually delivers gains. Since 1950, the average gains are…

  • S&P 500 +1.7%
  • Dow Jones +1.7%
  • Nasdaq +1.8%
  • Russell 2000 +2.3%

The market has a busy schedule to navigate.

November will start with a major announcement. Here are the days to mark on your calendar…

  • 1st, FOMC ends with interest rate decision today at 2:00 PM
  • 3rd, Jobs report
  • 14th, CPI headline inflation data
  • 17th, Options Expiration
  • 22nd, FOMC minutes
  • 23rd, Markets closed for Thanksgiving
  • 24th, half day
  • 29th, Q3 GDP revised
  • 30th, PCE inflation data


*Low Float
^Open Position

*GMM on watch
support at $2, resistance at $2.80
support at $565
on watch
support at $11.50
SRRK support at $11, resistance at $12
EPAC support at $28, resistance at $29
POWW support at $2
LOGI support at $78
PINS resistance at $30

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